VoLTE (Voice over LTE) Technology Market Size was valued at USD 4.69 Billion in 2023. The VoLTE (Voice over LTE) Technology market industry is projected to grow from USD 7.34313 Billion in 2024 to USD 169.62 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 48.06% during the forecast period (2024 - 2032). The rising need for better voice and video quality, fast internet, and the advantages of VoLTE are the key market drivers propelling the market's growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Growing technological advancements are surging the market growth
The pace of information transmission over a specified bandwidth in a particular system is known as spectral efficiency. VoLTE offers better spectral efficiency than traditional circuit-switched voice, accelerating the rollout of VoLTE services internationally. In 4G LTE networks, VoLTE improves the spectral efficiency of the transmitted voice. VoLTE technology developments, such as lowering bandwidth consumption, lowering the use of control channels, and increasing uplink coverage, optimize spectral efficiency. Therefore, the effect of increased spectral efficiency is noticeable and is anticipated to grow at a faster market CAGR.
Due to their quicker network speeds, mobile and cloud UC (Unified Communications) solutions are in higher demand from mobile organizations. To meet this demand, mobile network operators must invest in the LTE network's improvements, deploy UC applications via LTE, and provide end users with a better user experience. Businesses use mobile operators to supply improved network capabilities because end customers expect unified communications. As a result, the impact of rising mobile UC demand is substantial and is anticipated to expand at a healthy rate by 2022.
Due to the increased data transfer rate through the medium/channel, VoLTE has the advantage over 2G and 3G connections in that the call quality is better. To switch to VoLTE, use HD voice calls that provide a faster, more dependable, and overall richer experience. Such development is not possible without testing and monitoring tools that enable the development of fundamental network components and the networks over their full lifecycle.
VoLTE goes beyond simple 4G technology. The only standardized alternative for operator-provided voice services is IMS technology, as there is no CSFB of voice from 5G. The rollout of the 5G network over the following five years will support VoLTE launches and enable the introduction of Vo5G services. The GSMA estimates that 400 carriers will offer commercial VoLTE services by 2025. Thus, these factors are driving the VoLTE (Voice over LTE) Technology market revenue.
The VoLTE (Voice over LTE) Technology Market segmentation is based on Device Tablets, Smartphones, Routers, Laptops, and Others. The highest market share in 2022 will belong to the smartphone segment, accounting for more than 70% of all sales. This is a result of carriers and smartphone makers increasingly implementing VoLTE. Compared to conventional voice-over IP (VoIP) services, VoLTE has various benefits, including better call quality, quicker call setup times, and the ability to access data services while on the phone.
Figure 1: VoLTE (Voice over LTE) Technology Market, by Device, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The VoLTE (Voice over LTE) Technology Market segmentation, based on Technology, includes Circuits Switch Fall Back (CSFB), Voice Over IP Multimedia Subsystems (VoIMS), Simultaneous Voice and LTE (SVLTE), and Single Radio Voice Call Continuity (SRVCC). With a market share of more than 60% in 2022, Circuits Switch Fall Back (CSFB) category will remain the leading segment. This is because CSFB, a backward-compatible technology, enables the usage of VoLTE even when the user is outside of a VoLTE coverage region. Through CSFB, VoLTE calls can be placed even when the user is outside a VoLTE coverage region. This is significant because not all places have VoLTE coverage yet.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The biggest market for VoLTE in 2022 will be North America. This is due to the region's early adoption of VoLTE technology and the widespread use of smartphones and LTE networks. With more than 90% of devices in the region supporting VoLTE, North America has the most developed VoLTE market. Carriers in the area are making significant investments in VoLTE infrastructure and are providing plans and products that support it.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VoLTE (Voice over LTE) Technology Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe VoLTE (Voice over LTE) Technology market notes for the second-largest market. Some of the most cutting-edge mobile networks in the world are found in this region. The area's carriers are investing in VoLTE infrastructure and providing devices and plans that support it.
The Asia-Pacific VoLTE (Voice over LTE) Technology Market will likely grow at the quickest CAGR. Some of the biggest mobile markets in the world, including India and China, are found in this area. VoLTE technology is quickly embraced in these markets due to the rising demand for high-quality voice and video connections. Additionally, the industry is developing due to the rising demand for mobile data and the popularity of over-the-top (OTT) services like Skype and WhatsApp. Moreover, China’s VoLTE (Voice over LTE) Technology market held the key market share, and the Indian VoLTE (Voice over LTE) Technology market was the fastest-growing market in this region.
Leading market players are Offering VoLTE services and solutions to telecom operators, network equipment suppliers, and device makers; several significant competitors are contending for market dominance. Market participants are taking market developments to set themselves apart from the competition through ongoing innovation, collaborations, and the capacity to change to meet changing consumer and market demands. In the VoLTE (Voice over LTE) Technology industry, a few key players dominate the extremely competitive market.
They are expanding their presence to stay and increase their market share in the global VoLTE (Voice over LTE) Technology industry. Major players in the VoLTE (Voice over LTE) Technology market include AT&T Inc. (U.S.), LG Uplus Corporation (South Korea), Nokia Corporation (Finland), Ericsson (Sweden), Verizon Wireless (U.S.), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), Huawei Technologies Co. Ltd. (China), SK Telecom Co. Ltd. (South Korea), Mitel Networks Corporation (Canada), MetroPCS Communications (U.S.), Aptilo Networks (Sweden).
In Shenzhen, Guangdong, Huawei Technologies Co., Ltd. is a global Chinese firm manufacturing networking and telecommunications products and services. Carriers in more than 170 countries and regions employ Huawei's VoLTE products and services. A significant component of Huawei's 4G LTE portfolio is its VoLTE technology. Huawei is dedicated to offering carriers the best VoLTE solutions to satisfy their customers' expectations. Huawei is a leading provider of 4G LTE solutions, renowned for its goods and services with excellent quality, dependability, and scalability.
AT&T Inc. is a multinational American telecommunications holding corporation headquartered in Dallas, Texas. VoLTE service was originally introduced by AT&T in 2014, and it is now accessible in most of its 4G LTE coverage zones. The IP Multimedia Subsystem (IMS) is used by AT&T's VoLTE service to transmit voice calls over its 4G LTE network. As a result, AT&T can provide several advantages over standard voice calls. Numerous gadgets, including tablets, smartphones, and wearables, support AT&T's VoLTE service. You must have a VoLTE-capable handset and be in an area covered by AT&T's 4G LTE network to use VoLTE.
AT&T Inc. (U.S.)
LG Uplus Corporation (South Korea)
Nokia Corporation (Finland)
Ericsson (Sweden)
Verizon Wireless (U.S.)
Alcatel-Lucent (France)
KT Corporation (South Korea)
Rogers Communication (Canada)
Huawei Technologies Co. Ltd. (China)
SK Telecom Co. Ltd. (South Korea)
Mitel Networks Corporation (Canada)
MetroPCS Communications (U.S.)
Aptilo Networks (Sweden)
Emporia Telecom expanded its range of 4G products in July 2022 by adding a number of new attractive designs that are built with VoLTE and have ease of use as their central feature. UK residents who currently rely on basic 3G phones will have the chance to buy similar devices for voice calling after the country's 3G network is turned off, mostly in 2023.
In June 2022, T-Mobile US began offering commercial voice services across its standalone (5G RAN) core in two markets, indicating carriers' upward tendency to pool their network traffic. In specific areas, this innovation allows compatible devices to keep voice and data sessions over the operator's 5G network. According to the operator, this service might reduce call setup times; however, its real worth will come from now being able to include telephone service within its network slicing capabilities.
In addition, The Biden administration announced Thursday that it would give more than USD 400 million in loans and grants for rural regions aimed at promoting high-speed internet initiatives. This money is expected to benefit approximately 31.000 individuals and companies in about eleven states. This study by government projects will foster this market.
Moreover, The Prime Minister of India suggested that India should be considered by the rest of the world as an investment destination regarding digital or technological sectors when he said that his administration is looking at ways through which high-speed internet can be available within every neighborhood. These were termed technology years by them while highlighting benefits from technology during the pandemic, stating that there was a need for even investments in innovations and the technological landscape.
According to GSMA, Almost two hundred million new customers will have been added by 2025, so the subscriber count reaches a total of one billion eight hundred million (62%of the population). Out of these numbers, south Asia will drive most of it, with more than half coming from India, among others, up to that year. By then, mobile internet first-time users shall have hit a total of three hundred and thirty-three million people in the region, bringing the overall penetration to 52 percent.
Pixel handsets are being allowed to roam on VoLTE across multiple networks by June 2022. This has made it possible for Google to enable Pixel phones with supported VoLTE roaming in a bid to escape the connection problems that its clients might encounter during the phasing out of U.S. carrier 3G networks.
In its plans for expansion, Reliance Jio tested the compatibility of 4G Voice over Long Term Evolution (VoLTE) with 5G Voice over New Radio (VoNR) in May 2022. The enhanced 4G VoLTE network of the company has a 5G core inside it now. It can be checked if both 5G VoNR and 4G VoLTE work together now.
Tablets
Smartphones
Routers
Laptops
Others
Circuits Switch Fall Back (CSFB)
Voice Over IP Multimedia Subsystems (VoIMS)
Simultaneous Voice and LTE (SVLTE)
Single Radio Voice Call Continuity (SRVCC)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2023 | USD 4.69 Billion |
| Market Size 2024 | USD 7.34313 Billion |
| Market Size 2032 | USD 169.62 Billion |
| Compound Annual Growth Rate (CAGR) | 48.06% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Device, Technology, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | AT&T Inc. (U.S.), LG Uplus Corporation (South Korea), Nokia Corporation (Finland), Ericsson (Sweden), Verizon Wireless (U.S.), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), Huawei Technologies Co. Ltd. (China), SK Telecom Co. Ltd. (South Korea). Mitel Networks Corporation (Canada), MetroPCS Communications (U.S.), Aptilo Networks (Sweden) |
| Key Market Opportunities | Technological advancements |
| Key Market Dynamics | Increase benefits of VOLTE technology Growing smartphone sales among youngsters |
Frequently Asked Questions (FAQ) :
The VoLTE (Voice over LTE) Technology Market size was valued at USD 4.69 Billion in 2023.
The global market is projected to grow at a CAGR of 48.06% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are AT&T Inc. (U.S.), LG Uplus Corporation (South Korea), Nokia Corporation (Finland), Ericsson (Sweden), Verizon Wireless (U.S.), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), Huawei Technologies Co. Ltd. (China), SK Telecom Co. Ltd. (South Korea). Mitel Networks Corporation (Canada), MetroPCS Communications (U.S.), Aptilo Networks (Sweden).
The smartphone category dominated the market in 2022.
The Circuits Switch Fall Back (CSFB) had a major share in the global market.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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